The Nikkei Average is up ¥464, with sharp gains in South Korean stocks supporting the Tokyo market. Some investors are holding back on aggressive buying ahead of the US CPI release.
The Nikkei Average was up ¥464 as of 13:50, with Advantest, Tokyo Electron and Recruit Holdings among the top contributors, while Fast Retailing, Toyota Tsusho and Daikin were the top negative contributors. Sharp gains in South Korean stocks are supporting the Tokyo market.
By sector, mining, banking, nonferrous metals, services and electric appliances posted the largest gains, while textiles, retail, pharmaceuticals, rubber products and marine transportation posted the largest declines.
In the United States, the July Consumer Price Index (CPI) is scheduled for release tonight. While the data is drawing market attention, some investors are holding back on aggressive buying as they wait to assess the release. Some market participants also view developments in the South Korean market as a factor supporting the Tokyo market.